Krispy Kreme Isn't Worth Indigestion

Krispy Kreme Doughnuts Inc. took shareholders on a sweet ride for the first 11 months of 2013 with a share-price gain of 175%. In early December, though, it put out the sort of quarterly numbers that are hard to sugarcoat. The highflier lost one-fifth of its value and hasn't made up any of the lost ground.

Fans hope fiscal first-quarter results out Monday will get things going again. They might if analyst earnings forecasts of 14 cents a share, versus a profit of 11 cents a year ago, are equaled or exceeded. Whatever...